Press Releases
September 05, 2022

MVM Raises $3.2M Seed Funding Round To Transform Gaming in Africa

MVM Raises $3.2M Seed Funding Round To Transform Gaming in Africa

Metaverse Magna (MVM) has announced the completion of a $3.2 million seed sale token round to expand its efforts to build Africa’s largest gaming DAO and provide gamers with access to world-class opportunities. Metaverse Magna was the second venture to be publicly announced by Nestcoin and was incubated in partnership with a multi-strategy blockchain investment fund, Old Fashion Research (OFR).

The fundraiser was supported by a network of reputable investors and strategic partners, including Wemade, Tess Ventures, LD Capital, Taureon, Gumi Cryptos Capital, HashKey, AFF, Polygon Studios, Casper Johansen (Spartan), and IndiGG. The funding will be instrumental in MVM realizing its vision of a world where everyone has equal access to wealth-building opportunities through gaming, regardless of their geographic location or social status.

MVM launched in December 2021, building its community of gamers as a gaming guild. With this model, MVM offered play-to-earn scholarships to over 1,000 gamers to play crypto games like Axie Infinity and Pegaxy. Since its launch, MVM has grown to over 100,000 members across its products and community. MVM added earning opportunities for competitive and casual gamers, allowing them to earn from free-to-play web2 games they already love. To facilitate this, MVM is building a soon-to-launch social gaming app called Hyper.

Gaming is an efficient way to introduce people to digital assets, crypto wallets, and financial rewards. There are over 186 million players in Africa and 1 billion in frontier markets. The global mobile gaming industry generated $93 billion in revenue in 2021, making it bigger than other digital industries like music and online movie streaming. MVM empowers competitive and casual gamers to earn an income by taking advantage of the opportunities within this growing industry while giving them access to crypto. This will level the financial playing field for Africans and the rest of the global south.

“Africa has the highest youth population globally, but over 60% of the continent’s youth are unemployed. Gaming presents a unique opportunity to help young Africans earn and lift themselves and their families out of poverty. MVM’s seed sale token ensures opportunities for millions of gamers in these emerging markets,” says Yele Bademosi, CEO of Nestcoin.

“Our goal is to build Africa’s largest gaming community while providing the tools across the ecosystem for gamers, investors, game developers, and guild operators. We believe this investment is a huge leap in creating value for all our stakeholders and facilitating the expansion of MVM’s operations to provide opportunities for casual gamers through Hyper, our social gaming app with an embedded virtual wallet,” says Yemi Johnson, MVM’s General Manager.

“Co-building MVM is a strategic milestone for Old Fashion Research’s Global South investment strategy. MVM offers a gateway to onboard massive African youth populations to the Web 3 and neo-finance ecosystem via gaming. We are happy to build together with Nestcoin to formulate the MVM initiatives from scratch and will continue to support the MVM’s future expansion in terms of global partnership development.”, says Xin, Partner at Old Fashion Research.

“Gaming guilds will be one of the mainstream DAOs and play a pivotal role in game tokenomics. Partnership with MVM is an opportunity to expand the ecosystem of WEMIX in Africa, the continent with a rapidly growing market and a young population,” said Henry Chang, CEO of Wemade.

About MVM

MVM is Africa’s first and largest gaming DAO that publishes mobile games in frontier markets and creates developer tools for game creators to utilize emerging business models in Web3 gaming. Its vision is to create the premier gaming community in emerging markets and become a dominant gaming publisher.

About Nestcoin

Nestcoin is a venture collective that strives to create equal access to economic opportunities for people in the global south. Nestcoin builds, operates, and invests in simple products that make crypto accessible to everyone.

About OFR

Old Fashion Research is a multi-strategy blockchain investment fund founded by executives from the world’s leading exchange. OFR covers from early-seed investment to mergers and acquisitions in the blockchain industry.

For further inquiries, contact david@nestcoin.com 

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Serial crypto entrepreneur, VC fund partner, and CEO of the Metaverse Post.

More articles
Danil Myakin
Danil Myakin

Serial crypto entrepreneur, VC fund partner, and CEO of the Metaverse Post.

Hot Stories

Top Investment Projects of the Week 25-29.03

by Viktoriia Palchik
March 29, 2024
Join Our Newsletter.
Latest News

Custom HTML

by Valentin Zamarin
August 08, 2024

Top Investment Projects of the Week 25-29.03

by Viktoriia Palchik
March 29, 2024

Supply and Demand Zones

Cryptocurrency, like any other currency, is a financial instrument based on the fundamental economic principles of supply ...

Know More

Top 10 Crypto Wallets in 2024

With the current fast-growing crypto market, the significance of reliable and secure wallet solutions cannot be emphasized ...

Know More
Read More
Read more
GEDA Partners with Cyberport to Host Premier Expo, Positioning Hong Kong as the Hub for Web3 Gaming
Press Releases
GEDA Partners with Cyberport to Host Premier Expo, Positioning Hong Kong as the Hub for Web3 Gaming
March 29, 2024
The Ripple Effects of the Halving and ETF on Altcoin Markets and Investor Sentiment
Press Releases
The Ripple Effects of the Halving and ETF on Altcoin Markets and Investor Sentiment
March 29, 2024
Full Schedule Released for Hong Kong Web3 Festival 2024
Press Releases
Full Schedule Released for Hong Kong Web3 Festival 2024
March 28, 2024
Wiki Finance Expo Hong Kong 2024 Is Coming in May! 
Press Releases
Wiki Finance Expo Hong Kong 2024 Is Coming in May! 
March 26, 2024